Insider Selling: Macy’s, Inc. (NYSE:M) EVP Sells $35,250.40 in Stock

Macy’s, Inc. (NYSE:M) EVP Tracy M. Preston sold 2,780 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $35,250.40. Following the sale, the executive vice president now owns 4,723 shares of the company’s stock, valued at $59,887.64. This trade represents a 37.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Macy’s Stock Performance

Macy’s stock opened at $13.22 on Thursday. Macy’s, Inc. has a 1-year low of $12.48 and a 1-year high of $20.70. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $3.67 billion, a PE ratio of 22.41 and a beta of 2.07. The firm’s 50 day simple moving average is $14.30 and its 200 day simple moving average is $15.24.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.76 billion. As a group, analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 5.52%. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. Macy’s’s dividend payout ratio is 35.44%.

Analyst Ratings Changes

Several brokerages have recently issued reports on M. Citigroup decreased their price target on shares of Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Benchmark raised Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. The Goldman Sachs Group cut their price target on Macy’s from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Cowen restated a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $15.00 target price on shares of Macy’s in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.30.

Institutional Investors Weigh In On Macy’s

Several hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Macy’s by 22.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,731 shares of the company’s stock worth $486,000 after purchasing an additional 5,332 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Macy’s in the 4th quarter worth approximately $2,591,000. Forum Financial Management LP bought a new stake in Macy’s in the 4th quarter worth approximately $177,000. Vise Technologies Inc. boosted its stake in Macy’s by 37.2% in the fourth quarter. Vise Technologies Inc. now owns 23,129 shares of the company’s stock worth $392,000 after buying an additional 6,266 shares in the last quarter. Finally, MidWestOne Financial Group Inc. grew its position in Macy’s by 14.5% during the fourth quarter. MidWestOne Financial Group Inc. now owns 135,646 shares of the company’s stock valued at $2,296,000 after acquiring an additional 17,167 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.